Tuesday, April 18, 2017

Cityscape Abu Dhabi draws over 100 big players

Over 100 leading developers, architects, designers and major players in the design and construction sector are showcasing their innovative projects at the Cityscape Abu Dhabi expo which opened its doors today (April 18).

Held under the patronage of Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, the 11th edition of the expo will run until April 20 at the Abu Dhabi National Exhibition Centre.

Carlo Schembri, the exhibition manager for Cityscape Abu Dhabi said: "The positive sentiment within the market coupled with the expected government spending into new non-oil projects will help drive recovery and prevent an oversupply in the market."

According to a report published by FocusEconomics, partner of the show and a leading provider of economic analysis and forecasts for countries in Africa, Asia, Europe and the Americas, the UAE is predicted to record a 2.5 per cent growth in GDP this year and a further 3.2 per cent in 2018.

In light of the UAE’s preparations for the Expo 2020, the country is expected to pump in $40.5 billion for supporting infrastructure as developers in Abu Dhabi and the other emirates aim to capitalise on increasing tourist and visitor numbers over the next three years.

"We are expecting this year’s edition of Cityscape Abu Dhabi to be the largest in terms of announcement projects and exhibitor participation since 2011. With over 100 confirmed exhibitors and the increased development of free zones, opening up diverse opportunities for investors, Abu Dhabi is making positive steps towards its Vision 2030," stated Schembri.

In addition to the host of returning exhibitors, the free to attend Cityscape Talks will also make their debut at the show off the back of its success at Cityscape Global last year, and will offer live content direct from the show floor opening up discussions on key themes within the industry, he added.

The Talks will provide a unique platform for the audiences of Cityscape Abu Dhabi to engage and discuss a wide range of topics, which include residential market activity, investment hotspots, real estate finance as well as industry outlooks and trends.

Top representatives from some of Abu Dhabi’s influential companies such as Frank Wiesse, the director, Drees & Sommer ME; Ahmed Hamam, the lead product (collections & liquidity management) at ADCB; and John Hanafin, the chief executive of Arton Capital will take the stage for discussions on improving efficiency in construction projects, regulations on escrow accounts and empowering global citizenship and residency, respectively, said the organisers.

In accordance with the rules and regulations administered by the Abu Dhabi Municipality, sales will be permitted directly from exhibitor stands as thousands of individual investors and real estate professionals will discover the latest developments within the capital’s property market, they stated.

A number of diverse exhibitor projects will be showcased at the expo including Abu Dhabi’s Marina Mall extension, The Wave Tower and luxury villa complex Marina Sunset Bay as well as future Saadiyat Island, Abu Dhabi projects.-TradeArabia News Service

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